Orionstone plans to sell $200 million seven-year notes Aug. 12 week

By Aleesia Forni

Virginia Beach, Va., Aug. 9 - Orionstone Pty Ltd. expects to price its planned $200 million seven-year senior secured notes during the Aug. 12 week, according to a source close to the deal.

The issue was expected to price Aug. 9.

Morgan Stanley & Co. LLC will be the bookrunner for the Rule 144A for life deal.

The bonds will have three years of call protection.

The company plans to use the proceeds from the new deal to repay existing debt plus applicable fees.

Orionstone is a Mackay, Australia-based provider of heavy equipment to that country's mining and construction industries.

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